Cibc World Markets Corp Buys 5,035 Shares of Norfolk Southern Co. (NYSE:NSC)

Cibc World Markets Corp lifted its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 16.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,689 shares of the railroad operator’s stock after purchasing an additional 5,035 shares during the quarter. Cibc World Markets Corp’s holdings in Norfolk Southern were worth $8,376,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in NSC. Principal Financial Group Inc. grew its stake in Norfolk Southern by 3.6% in the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock valued at $63,417,000 after acquiring an additional 8,844 shares during the period. Caprock Group LLC acquired a new stake in Norfolk Southern in the 4th quarter valued at $1,796,000. Grandview Asset Management LLC acquired a new position in Norfolk Southern during the fourth quarter worth $918,000. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Norfolk Southern by 2.3% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator’s stock valued at $1,333,000 after buying an additional 128 shares in the last quarter. Finally, Garner Asset Management Corp grew its holdings in shares of Norfolk Southern by 3.2% during the third quarter. Garner Asset Management Corp now owns 3,168 shares of the railroad operator’s stock valued at $787,000 after buying an additional 97 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Norfolk Southern

In other news, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now directly owns 2,487 shares in the company, valued at $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by insiders.

Norfolk Southern Stock Down 0.0 %

Shares of NYSE NSC opened at $234.37 on Wednesday. The business has a 50-day simple moving average of $246.19 and a two-hundred day simple moving average of $250.25. Norfolk Southern Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The company has a market cap of $53.07 billion, a P/E ratio of 20.27, a P/E/G ratio of 2.31 and a beta of 1.35. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Research analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Analysts Set New Price Targets

NSC has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They issued a “buy” rating and a $293.00 price target on the stock. Royal Bank of Canada raised their target price on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Loop Capital lowered Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price target for the company from $289.00 to $256.00 in a research report on Monday, February 3rd. Susquehanna reduced their target price on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company cut their price target on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $276.95.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.